The Impact of Audit Committee Characteristics on Financial Distress
Abstract
This research to analyze impact of audit committee characteristics on financial distress, which could be seen from size, independent, meetings frequency, educational background and gender diversity of the audit committee. The study applies Springate Model and categorize financial of the company in two conditions, company which occurs financial distress and company has good financial (healthy company). Using manufacturing company listed on IDX period 2017-2023 as a population of the research. Final samples in this study are 920 samples, consist of 461 samples occurs financial distress and 459 samples in healthy financial condition. Analysis data used logistic regression. Results of this research showed that size, independent and educational background of audit committee has negative impact on financial distress. Whereas meetings frequency audit committee has positive impact on financial distress and audit committee gender diversity has no impact on financial distress.
Keywords: Financial Distress; Audit Committees; Springate Model
Downloads
Download data is not yet available.
References
Abbas, A., & Frihatni, A. A. (2023). Gender diversity and firm performances suffering from financial distress: evidence from Indonesia. Journal of Capital Markets Studies, 7(1), 91–107. https://doi.org/10.1108/JCMS-12-2022-0045
Ahmed, M. M. A., Hassan, D. K. A. E. S. A., & Magar, N. H. A. (2024). The Moderating Role of Board Gender Diversity on The Relationship between Audit Committee Characteristics and Financial Performance: Evidence From Egypt. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-12-2023-0746
Alexandra, C., Lionardi, M., William, Jennefer, S., & Meiden, C. M. (2022). Studi Literatur: Pengaruh Faktor Good Corporate Governance terhadap Financial Distress. Owner : Riset Dan Jurnal Akuntansi, 6(1), 111-122. https://doi.org/10.33395/owner.v6i1.536
Amaliyah, D., & Putri, D. M. (2024). Pengaruh Karakteristik Komite Audit terhadap Risiko Kebangkrutan dengan Kecurangan Laporan Keuangan sebagai Variabel Mediasi. Journal of Economic, Bussines and Accounting (COSTING), 13(3), 481–497. https://doi.org/10.31539/costing.v7i5.11936
Bravo-Urquiza, F., & Moreno-Ureba, E. (2021). Does compliance with corporate governance codes help to mitigate financial distress? Research in International Business and Finance, 55. https://doi.org/10.1016/j.ribaf.2020.101344
Coleman, M., & Wu, M. (2021). Corporate governance mechanisms and corporate performance of firms in Nigeria and Ghana. International Journal of Productivity and Performance Management, 70(8), 2319–2351. https://doi.org/10.1108/IJPPM-01-2020-0020
Chen, Y., Zhang, X., & Liu, Z. (2014). Manager Characteristics and the Choice of Firm “Low Leverage”: Evidence From China. American Journal of Industrial and Business Management, 4, 573–584. https://doi.org/10.4236/ajibm.2014.410062
Edi, E., & Tania, M. (2018). Ketepatan Model Altman, Springate, Zmijewski, Dan Grover Dalam Memprediksi Financial Distress. Jurnal Reviu Akuntansi Dan Keuangan, 8(1), 79. https://doi.org/10.22219/jrak.v8i1.28
Fitroni, N. A., & Feliana, Y. K. (2022). Pengaruh Keragaman Gender pada Dewan Komisaris, Dewan Direksi, dan Komite Audit Terhadap Manajemen Laba. Akuntansi Dan Teknologi Informasi, 15(1), 8-21. https://doi.org/10.24123/jati.v15i1.4575
Ghozali, I. (2021). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 26 Edisi 10. Badan Penerbit Universitas Diponegoro.
Hamid, M.A., Ting, I.W.K., & Kweh, Q.L. (2016). The Relationship Between Corporate Governance and Expropriation of Minority Shareholders’ Interests. Procedia Economics and Finance. Vol. 35, 99–106. https://doi.org/10.1016/s2212-5671(16)00014-9
Harahap, L. R., Wulandari, S., Thoyib, E., & Effendy, R. Y. (2020). Penggunaan Metode Altman Z-Score Dalam Analisis Risiko Keuangan PT. Bank Tabungan Pensiunan Nasional Syariah, Tbk. Jurnal Ilmu Manajemen, 10(1), 15. https://doi.org/10.32502/jimn.v10i1.2454
Herranz, C., Lopez-Iturriaga, F., & Reguera-Alvarado, N. (2020). Audit committee expertise in large European firms. Managerial Auditing Journal, 35(9), 1313–1341. https://doi.org/10.1108/MAJ-11-2019-2478
Hormati, A., Nurdin, N., Syahdan, R., & Buamonabot, I. (2022). Studi Empiris Good Corporate Governance (GCG) dan Tata Kelola Keuangan Ukuran Perusahaan Sebagai Variabel Kontrol. Society, 10(1), 32–44. https://doi.org/10.33019/society.v10i1.257
Hutauruk, M. R., Mansyur, M., Rinaldi, M., & Situru, Y. R. (2021). Financial Distress Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. JPS (Jurnal Perbankan Syariah), 2(2), 237–246. https://doi.org/10.46367/jps.v2i2.381
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Jia, J. (2019). Does risk management committee gender diversity matter? A financial distress perspective. Managerial Auditing Journal, 34(8), 1050–1072. https://doi.org/10.1108/MAJ-05-2018-1874
Khoirony, N. A., & Nazar, S. N. (2023). Pengaruh Audit Committee Size, Intellectual Capital, dan Kepemilikan Manajerial Terhadap Financial Distress (Studi Empiris Pada Perusahaan Jasa Sektor Hotel, Restoran dan Pariwisata yang terdaftar di BEI Periode 2018-2022). 3(2), 148–162. https://openjournal.unpam.ac.id/index.php/PIM/article/view/33634
Komite Nasional Kebijakan Governansi (KNKG). (2021). Pedoman Umum Governansi Korporat Indonesia (PUG-KI) 2021. https://knkg.or.id/wp-content/uploads/2022/06/PUGKI-2021-LORES.pdf
Li, Z., Crook, J., Andreeva, G., & Tang, Y. (2021). Predicting the risk of financial distress using corporate governance measures. Pacific Basin Finance Journal, 68 (February 2020). https://doi.org/10.1016/j.pacfin.2020.101334
Masak, F., & Noviyanti, S. (2019). Pengaruh Karakteristik Komite Audit terhadap Financial Distress. International Journal of Social Science and Business, 3(3), 237–247. https://doi.org/10.23887/ijssb.v3i3.21002
Michelin, N., & Mindosa, B. (2021) Pengaruh Independensi, Kompetensi, Gender dan Ukuran Komite Audit Terhadap Financial Distress. Institut Bisnis dan Informatika Kwik Kian Gie. http://eprints.kwikkiangie.ac.id/3174/10/resume.pdf
Peraturan Otoritas Jasa Keuangan No. 55 /POJK.04/2015 Tentang Pembentukan Dan Pedoman Pelaksanaan Kerja Komite Audit, Ojk.Go.Id 1 (2015). https://ojk.go.id/id/kanal/pasar-modal/regulasi/peraturan-ojk/Pages/POJK-Nomor-55.POJK.04.2015.aspx
Prihartantiningtyas, N., & Juliarto, A. (2018). Factors Influencing Audit Committee Meeting Frequency in Indonesia Listed Firms. 536–544. http://eprints.undip.ac.id/67272/1/IMAC8_80.pdf
Rizqiani, N., & Umaimah, U. (2022). Pengaruh Ukuran Komite Audit, Frekuensi Pertemuan Komite Audit, dan Reputasi Auditor dalam memprediksi Financial Distress. Prosiding Seminar Nasional Ekonomi Dan Bisnis 1, 479–491. https://journal.um-surabaya.ac.id/Pro/article/view/12782
Sukawati, T. A., & Wahidahwati. (2020). Pengaruh Kinerja Keuangan Dan Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Ilmu dan Riset Akuntansi (JIRA), 9(1). https://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/2766/2776
Permatasari, L. W., Koeswoyo, P. S., & Irawady, C. (2023). Pengaruh Kualitas Auditor Internal dan Efektivitas Komite Audit terhadap Korupsi Di BUMN. Owner: Riset Dan Jurnal Akuntansi, 7(3), 2640-2655. https://doi.org/10.33395/owner.v7i3.1464
Purba, Y. B. L. B., & Laksito, H. (2016). Pengaruh Efektivitas Komite Audit Terhadap Financial Destress. Diponegoro Journal Of Accounting, 5(2002), 1–11. https://ejournal3.undip.ac.id/index.php/accounting/article/view/25746
Putra, R., & Serly, V. (2020). Pengaruh Karakteristik Komite Audit dan Ukuran Perusahaan terhadap Financial Distress (Studi Empiris pada Perusahaan BUMN di Indonesia Tahun 2014-2018). Jurnal Eksplorasi Akuntansi, 2(3). http://jea.ppj.unp.ac.id/index.php/jea/article/view/275
Rahmawati, E., & Herlambang, P. (2018). Pengaruh Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Reviu Akuntansi Dan Keuangan, 8(1), 53. https://doi.org/10.22219/jrak.v8i1.26
Rifai, M., & Siregar, S.V. (2021). The Effect of Audit Committee Characteristics on Forward-Looking Disclosure, Journal of Financial Reporting and Accounting, Vol. 19 No. 5, pp. 689-706. https://doi.org/10.1108/JFRA-05-2019-0063
Rosidah, D. A., & Sukarmanto, E. (2021). Pengaruh Kinerja Keuangan Dan Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 7(1), 140–145. http://dx.doi.org/10.29313/.v7i1.25483
Samanta, N., & Johnston, A. (2019), Shareholder Primacy Corporate Governance and Financial Market Growth, Corporate Governance: The International Journal of Business in Society, Vol. 19 No. 5, pp. 845-848. https://doi.org/10.1108/CG-10-2019-385
Santoso, S., & Maranatha, U. K. (2009). Metode Springate. 17–27.
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: CV. Alfabeta
Supriati, D., Bawono, I. R., & Choirl, A. K. (2019). Analisis Perbandingan Model Springate, Zmijewski, Dan Altman Dalam Memprediksi Financial Distress Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Journal of Business Administration, 3(2), 258–270. https://media.neliti.com/media/publications/310024-none-ec7e5aa0.pdf
Susanti, N. (2020). Pengaruh Corporate Governance dan Gender Diversity terhadap Financial Distress pada Perusahaan Sektor Properti, Real Estate dan Konstruksi Bangunan yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2018. Universitas Islam Indonesia. http://dspace.uii.ac.id/123456789/23628
Younas, N., UdDin, S., Awan, T. and Khan, M.Y. (2021). Corporate governance and financial distress: Asian emerging market perspective. Corporate Governance, Vol. 21 No. 4, pp. 702-715. https://doi.org/10.1108/CG-04-2020-0119
Ahmed, M. M. A., Hassan, D. K. A. E. S. A., & Magar, N. H. A. (2024). The Moderating Role of Board Gender Diversity on The Relationship between Audit Committee Characteristics and Financial Performance: Evidence From Egypt. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-12-2023-0746
Alexandra, C., Lionardi, M., William, Jennefer, S., & Meiden, C. M. (2022). Studi Literatur: Pengaruh Faktor Good Corporate Governance terhadap Financial Distress. Owner : Riset Dan Jurnal Akuntansi, 6(1), 111-122. https://doi.org/10.33395/owner.v6i1.536
Amaliyah, D., & Putri, D. M. (2024). Pengaruh Karakteristik Komite Audit terhadap Risiko Kebangkrutan dengan Kecurangan Laporan Keuangan sebagai Variabel Mediasi. Journal of Economic, Bussines and Accounting (COSTING), 13(3), 481–497. https://doi.org/10.31539/costing.v7i5.11936
Bravo-Urquiza, F., & Moreno-Ureba, E. (2021). Does compliance with corporate governance codes help to mitigate financial distress? Research in International Business and Finance, 55. https://doi.org/10.1016/j.ribaf.2020.101344
Coleman, M., & Wu, M. (2021). Corporate governance mechanisms and corporate performance of firms in Nigeria and Ghana. International Journal of Productivity and Performance Management, 70(8), 2319–2351. https://doi.org/10.1108/IJPPM-01-2020-0020
Chen, Y., Zhang, X., & Liu, Z. (2014). Manager Characteristics and the Choice of Firm “Low Leverage”: Evidence From China. American Journal of Industrial and Business Management, 4, 573–584. https://doi.org/10.4236/ajibm.2014.410062
Edi, E., & Tania, M. (2018). Ketepatan Model Altman, Springate, Zmijewski, Dan Grover Dalam Memprediksi Financial Distress. Jurnal Reviu Akuntansi Dan Keuangan, 8(1), 79. https://doi.org/10.22219/jrak.v8i1.28
Fitroni, N. A., & Feliana, Y. K. (2022). Pengaruh Keragaman Gender pada Dewan Komisaris, Dewan Direksi, dan Komite Audit Terhadap Manajemen Laba. Akuntansi Dan Teknologi Informasi, 15(1), 8-21. https://doi.org/10.24123/jati.v15i1.4575
Ghozali, I. (2021). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 26 Edisi 10. Badan Penerbit Universitas Diponegoro.
Hamid, M.A., Ting, I.W.K., & Kweh, Q.L. (2016). The Relationship Between Corporate Governance and Expropriation of Minority Shareholders’ Interests. Procedia Economics and Finance. Vol. 35, 99–106. https://doi.org/10.1016/s2212-5671(16)00014-9
Harahap, L. R., Wulandari, S., Thoyib, E., & Effendy, R. Y. (2020). Penggunaan Metode Altman Z-Score Dalam Analisis Risiko Keuangan PT. Bank Tabungan Pensiunan Nasional Syariah, Tbk. Jurnal Ilmu Manajemen, 10(1), 15. https://doi.org/10.32502/jimn.v10i1.2454
Herranz, C., Lopez-Iturriaga, F., & Reguera-Alvarado, N. (2020). Audit committee expertise in large European firms. Managerial Auditing Journal, 35(9), 1313–1341. https://doi.org/10.1108/MAJ-11-2019-2478
Hormati, A., Nurdin, N., Syahdan, R., & Buamonabot, I. (2022). Studi Empiris Good Corporate Governance (GCG) dan Tata Kelola Keuangan Ukuran Perusahaan Sebagai Variabel Kontrol. Society, 10(1), 32–44. https://doi.org/10.33019/society.v10i1.257
Hutauruk, M. R., Mansyur, M., Rinaldi, M., & Situru, Y. R. (2021). Financial Distress Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. JPS (Jurnal Perbankan Syariah), 2(2), 237–246. https://doi.org/10.46367/jps.v2i2.381
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Jia, J. (2019). Does risk management committee gender diversity matter? A financial distress perspective. Managerial Auditing Journal, 34(8), 1050–1072. https://doi.org/10.1108/MAJ-05-2018-1874
Khoirony, N. A., & Nazar, S. N. (2023). Pengaruh Audit Committee Size, Intellectual Capital, dan Kepemilikan Manajerial Terhadap Financial Distress (Studi Empiris Pada Perusahaan Jasa Sektor Hotel, Restoran dan Pariwisata yang terdaftar di BEI Periode 2018-2022). 3(2), 148–162. https://openjournal.unpam.ac.id/index.php/PIM/article/view/33634
Komite Nasional Kebijakan Governansi (KNKG). (2021). Pedoman Umum Governansi Korporat Indonesia (PUG-KI) 2021. https://knkg.or.id/wp-content/uploads/2022/06/PUGKI-2021-LORES.pdf
Li, Z., Crook, J., Andreeva, G., & Tang, Y. (2021). Predicting the risk of financial distress using corporate governance measures. Pacific Basin Finance Journal, 68 (February 2020). https://doi.org/10.1016/j.pacfin.2020.101334
Masak, F., & Noviyanti, S. (2019). Pengaruh Karakteristik Komite Audit terhadap Financial Distress. International Journal of Social Science and Business, 3(3), 237–247. https://doi.org/10.23887/ijssb.v3i3.21002
Michelin, N., & Mindosa, B. (2021) Pengaruh Independensi, Kompetensi, Gender dan Ukuran Komite Audit Terhadap Financial Distress. Institut Bisnis dan Informatika Kwik Kian Gie. http://eprints.kwikkiangie.ac.id/3174/10/resume.pdf
Peraturan Otoritas Jasa Keuangan No. 55 /POJK.04/2015 Tentang Pembentukan Dan Pedoman Pelaksanaan Kerja Komite Audit, Ojk.Go.Id 1 (2015). https://ojk.go.id/id/kanal/pasar-modal/regulasi/peraturan-ojk/Pages/POJK-Nomor-55.POJK.04.2015.aspx
Prihartantiningtyas, N., & Juliarto, A. (2018). Factors Influencing Audit Committee Meeting Frequency in Indonesia Listed Firms. 536–544. http://eprints.undip.ac.id/67272/1/IMAC8_80.pdf
Rizqiani, N., & Umaimah, U. (2022). Pengaruh Ukuran Komite Audit, Frekuensi Pertemuan Komite Audit, dan Reputasi Auditor dalam memprediksi Financial Distress. Prosiding Seminar Nasional Ekonomi Dan Bisnis 1, 479–491. https://journal.um-surabaya.ac.id/Pro/article/view/12782
Sukawati, T. A., & Wahidahwati. (2020). Pengaruh Kinerja Keuangan Dan Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Ilmu dan Riset Akuntansi (JIRA), 9(1). https://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/2766/2776
Permatasari, L. W., Koeswoyo, P. S., & Irawady, C. (2023). Pengaruh Kualitas Auditor Internal dan Efektivitas Komite Audit terhadap Korupsi Di BUMN. Owner: Riset Dan Jurnal Akuntansi, 7(3), 2640-2655. https://doi.org/10.33395/owner.v7i3.1464
Purba, Y. B. L. B., & Laksito, H. (2016). Pengaruh Efektivitas Komite Audit Terhadap Financial Destress. Diponegoro Journal Of Accounting, 5(2002), 1–11. https://ejournal3.undip.ac.id/index.php/accounting/article/view/25746
Putra, R., & Serly, V. (2020). Pengaruh Karakteristik Komite Audit dan Ukuran Perusahaan terhadap Financial Distress (Studi Empiris pada Perusahaan BUMN di Indonesia Tahun 2014-2018). Jurnal Eksplorasi Akuntansi, 2(3). http://jea.ppj.unp.ac.id/index.php/jea/article/view/275
Rahmawati, E., & Herlambang, P. (2018). Pengaruh Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Reviu Akuntansi Dan Keuangan, 8(1), 53. https://doi.org/10.22219/jrak.v8i1.26
Rifai, M., & Siregar, S.V. (2021). The Effect of Audit Committee Characteristics on Forward-Looking Disclosure, Journal of Financial Reporting and Accounting, Vol. 19 No. 5, pp. 689-706. https://doi.org/10.1108/JFRA-05-2019-0063
Rosidah, D. A., & Sukarmanto, E. (2021). Pengaruh Kinerja Keuangan Dan Efektivitas Komite Audit Terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 7(1), 140–145. http://dx.doi.org/10.29313/.v7i1.25483
Samanta, N., & Johnston, A. (2019), Shareholder Primacy Corporate Governance and Financial Market Growth, Corporate Governance: The International Journal of Business in Society, Vol. 19 No. 5, pp. 845-848. https://doi.org/10.1108/CG-10-2019-385
Santoso, S., & Maranatha, U. K. (2009). Metode Springate. 17–27.
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: CV. Alfabeta
Supriati, D., Bawono, I. R., & Choirl, A. K. (2019). Analisis Perbandingan Model Springate, Zmijewski, Dan Altman Dalam Memprediksi Financial Distress Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Journal of Business Administration, 3(2), 258–270. https://media.neliti.com/media/publications/310024-none-ec7e5aa0.pdf
Susanti, N. (2020). Pengaruh Corporate Governance dan Gender Diversity terhadap Financial Distress pada Perusahaan Sektor Properti, Real Estate dan Konstruksi Bangunan yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2018. Universitas Islam Indonesia. http://dspace.uii.ac.id/123456789/23628
Younas, N., UdDin, S., Awan, T. and Khan, M.Y. (2021). Corporate governance and financial distress: Asian emerging market perspective. Corporate Governance, Vol. 21 No. 4, pp. 702-715. https://doi.org/10.1108/CG-04-2020-0119
Published
2025-01-21
How to Cite
WIRYANINGRUM, Mutiara Sukma; JANUARTI, Indira; ROSA, Adelia.
The Impact of Audit Committee Characteristics on Financial Distress.
E-Jurnal Akuntansi, [S.l.], v. 35, n. 5, jan. 2025.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/123107>. Date accessed: 14 oct. 2025.
doi: https://doi.org/10.24843/EJA.2025.v35.i05.p19.
Issue
Section
Articles
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
